Setting Up & Updating Prices

Accessing the Price List

1. Locate the Price List: From the main dashboard of the TFX Biz-Flow Sell Module, find and click on the 'Price List' tab on the sidebar.

2. View Current Pricing: Upon entry, you will be presented with a list of your products or services, along with their current prices, discounts, and other relevant details.

Setting up/updating Prices

Setting Up and Updating Prices

1. Initial Price Setup: When new products are added to the Product Master File, their selling prices are also established during the product creation process.

2. Designated Authority: To ensure pricing integrity, only authorized personnel should have the ability to adjust prices. Assign this role within the User Permission Module.

3. Price Updates: To modify a product's selling price:

   • Click on the "Update Price/Cost" button next to the relevant product.

   • Enter the new price in the designated field.

   • Submit the update for review and approval by the designated authority.

Updating Unit Costs

1. Review Unit Costs: Within the Price List, each product's unit cost is also displayed, critical for understanding profit margins.

2. Trading Companies: For businesses that purchase traded products, the application will automatically update the product costs based on the latest purchase data.

3. Manufacturing Companies: If you are manufacturing products, update the unit cost manually to reflect production costs accurately.

Approval Tab

Submitting and Approving Changes

1. Submit Changes: After entering the new price or cost, submit the data for approval to ensure that all changes are reviewed and verified.

2. Approval Process: Once the update is approved, the new pricing will automatically be updated across the Product and Inventory Modules.

Best Practices

• Regular Review: Conduct regular reviews of your pricing to stay competitive and profitable.

• Market Analysis: Align your pricing strategy with market research and customer feedback.

• Transparent Communication: Notify your customers of any price changes, especially if you have long-standing contracts or agreements.

Efficient Price List management is essential for maintaining the financial health of your business. By following these steps within the TFX Biz-Flow Sell Module, you can ensure that your pricing strategies are both competitive and profitable, adapting swiftly to the changing dynamics of the marketplace.